India says it will launch digital rupee as soon as this year

India’s finance minister has said the country will launch a digital version of the rupee as early as this year.

In her annual budget speech, Nirmala Sitharaman also outlined plans for a 30% tax on income from digital assets.

It would put profits from trading or transferring cryptocurrencies and non-fungible tokens in the country’s highest tax band.

India is the latest major economy to announce an official virtual currency, as China trials the digital yuan.

“Introduction of a central bank digital currency will give a boost, a big boost to (the) digital economy,” Ms Sitharaman said on Tuesday.

–BBC

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